Radio Shack 2011 Annual Report Download - page 79
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71
Condensed Consolidating Statements of Income
For the Year Ended December 31, 2009
(In millions)
RadioShack
Corporation
(Parent Co.)
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries
Eliminations
Consolidated
Net sales and operating revenues $ 4,107.1 $ 3,295.3 $ 178.8 $ (3,507.6) $ 4,073.6
Cost of products sold 2,523.4 3,056.9 127.8 (3,507.6) 2,200.5
Gross profit 1,583.7 238.4 51.0 -- 1,873.1
Operating expenses:
Selling, general and administrative 1,376.0 15.1 43.9 -- 1,435.0
Depreciation and amortization 76.2 0.4 4.5 -- 81.1
Impairment of long-lived assets 1.5 -- -- -- 1.5
Total operating expenses 1,453.7 15.5 48.4 -- 1,517.6
Operating income 130.0 222.9 2.6 -- 355.5
Interest income 1.6 9.5 5.5 (11.8) 4.8
Interest expense (55.7) -- (0.2) 11.8 (44.1)
Other loss (1.6) -- -- -- (1.6)
Income from continuing operations
before income taxes
74.3
232.4
7.9
--
314.6
Income tax expense 32.0 81.5 4.6 -- 118.1
Equity in earnings of subsidiaries, net of income taxes 162.7 (1.2) 9.4 (170.9) --
Income from continuing operations 205.0 149.7 12.7 (170.9) 196.5
Discontinued operations, net of income taxes -- 8.5 -- -- 8.5
Net income $ 205.0 $ 158.2 $ 12.7 $ (170.9) $ 205.0